SCHEDULE 1Transitional Provisions and Savings
6
1
This paragraph applies in the case of an existing fund which—
a
makes a successful application under paragraph 3 to continue to be treated as a distributing fund after 1st December 2009, and
b
becomes a reporting fund immediately following the end of the overlap period or the succeeding period.
2
For the purposes of regulations 17 and 99 the fund is treated as a reporting fund for the entirety of a continuous period—
a
beginning with the day the fund becomes a distributing fund, and
b
ending on the last day of the overlap period or the succeeding period (as the case may be).
3
If for any part of the period specified in sub-paragraph (2) the fund is not a distributing fund, the period is not continuous for the purposes of that sub-paragraph.